India-South Korea sign 10 MoUs and One pact

Bilateral meet between Prime Minister Narendra Modi and South Korean President Moon Jae-in witnessed a unique convergence between India’s Act East Policy and Korea’s New Southern Policy. It was reiterated that South Korea’s expertise in manufacturing and technology and India’s skilled workforce makes for an indispensable partnership.

While on Monday, the two leaders inaugurated the world’s largest mobile manufacturing plant in Uttar Pradesh, today they shared the vision of even better economic ties driven by peace and security in the region and closer people to people engagement.

The bilateral meet beween Prime Minister Narendra Modi and South Korean President Moon Jae-in took place at Hyderabad House in New Delhi on Tuesday. The two leaders committed to take ties to a new level. The leaders not only reviewed the bilateral ties but also discussed a range of regional and global issues. The leaders signed on 10 MoUs and one pact.

The two countries issued a comon vision statement titled: India & Republic of Korea- A Vision for People, Prosperity, Peace and our Future.

The statement expresses commitment to strenthen the Special Strategic Partnership between the countries. Steps have also been taken to upgrade the comprehensive economic partnership agreement (CEPA) between India & Korea.

PM Modi said the foundation of close ties between the two countries is based on economic and business relationship. He said It is a great delight that Korea’s companies have not just invested in India, but also created employment opportunities in India by joining our make-in India initiative. PM credited president Moon Jae-in for the peace initiatives in korean peninsula and added that India will continue to contribute for peace in the region.

South Korean president said that the two countries have begun a new era of bilateral relations.

PM Modi and President Moon Jae-in upheld the need to improve people to people cooperation between India and Korea and make mutual summit level visits on a regular basis.

Earlier, the visiting dignitary was accorded ceremonial welcome at the forecourts of Rashtrapati Bhavan. The Korean President also inspected the guard of honour. He, accompanied by his wife, paid his respects to Father of the nation at rajghat. yesterday, the two leaders inaugurated the world’s largest mobile manufacturing plant in Noida. The plant has the capacity to produce 12 crore phones every year. All in all, building on ancient and cultural ties, india and korea fostered closer ties towards a common future.